What: Short term relief rally followed by a decline
Why: Bullish flag followed by a bearing descending triangle
Fundamental: The overall market seems to have been confused with the results of the recent presidential election. What may seem to be a positive thing for markets could be short lived due to the rush of buyers along with a short squeeze. Fundamentally, all of Trumps policies will take some time to go into effect and it may be too early to price in these movements without knowing the timeline and consequences.
Profit Target: Within the next 30 days, we're looking at a price point between 217 and 220 but afterwards we are targeting a decline from 203 and 207 by the end of January 2017.
Why: Bullish flag followed by a bearing descending triangle
Fundamental: The overall market seems to have been confused with the results of the recent presidential election. What may seem to be a positive thing for markets could be short lived due to the rush of buyers along with a short squeeze. Fundamentally, all of Trumps policies will take some time to go into effect and it may be too early to price in these movements without knowing the timeline and consequences.
Profit Target: Within the next 30 days, we're looking at a price point between 217 and 220 but afterwards we are targeting a decline from 203 and 207 by the end of January 2017.